The Germany that engaged in the successful 1973 float of the DM, now seems to be missing the main point of that decision. That monetary autonomy is valuable. Also odd is German backing of currency areas across very differing economies, in tandem with federal fiscal rules absent a federal government. Inflation and threats to currencies […]
Tag Archives: GFC
Reports in the Fairfax press and the ABC that Westpac customers received a video on Monday, comparing bananas as borrowed cash, and smoothies as credit, is about as wacky as a bank can get. It’s probably not as strange as the bizaare Celebrex Ad – “it won’t kill you… we hope”. Who advised them on this? I’m guessing the same dudes […]
Since 1990, household debt has risen from around 80 per cent of income to around 130 per cent. So household finances were badly stretched leading up to the middle of 2008. There has been very little change in ratio of total household net worth from post-war to 1990. But after 1990, there was a significant […]